Local Government Super MySuper Age Based Investment Strategy

What the Researchers Say:

A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average and/or performance in one or more of our assessment criteria.

You should contact your financial adviser or this fund before making an investment decision.

Awards

Fund data valid as of
July 31, 2016

Typical Fees

Balance

This Fund

Industry Average

Difference

5k

$103

$156

-$53

50k

$400

$627

-$227

100k

$730

$1,155

-$425

Investment Allocation

Intl shares

28.0%

Aus shares

23.0%

Property

7.0%

Alternative

21.0%

Fixed interest

15.0%

Cash

1.0%

Other

5.0%

Fees & Charges

Administration Fee ($)

$70

Administration Fee (%)

0.27%

Investment Fee

0.39%

Switching Fee

$26

Exit Fee

$26

Account Size Discount

No

Employer Size Discount

No

Fund Features

Financial Planning Service

Health Insurance

Home Loans

Credit Cards

Binding Nominations

Non-lapsing Binding Nominations

Insurance Life Event Increases

Anti-detriment Payments

Long Term Income Protection

About this Fund

Membership

91,595

Total Assets

$9,317,621,246

Year Started

2013

Target Market

NSW Local Government

Offered to Public?

Yes

Fund Type

Industry-MySuper

Fund Highlights - provided by Local Government Super MySuper Age Based Investment Strategy

Strong commitment to sustainable investing

Access to financial planning service

Insurance offering with competitive rates for automatic insurance

Member benefit program provides discounts for travel accommodation, phone and rental cars

Full public offer license via Division P which allows members of the public to join, provided that they are eligible to join a superannuation fund in Australia

Investment Option Performance

Asset Allocation Category

FYTD

FY 2015

FY 2014

FY 2013

FY 2012

FY 2011

Comparison

Balanced

2.37%

2.65%

3.42%

2.81%

9.33%

9.60%

12.72%

12.66%

13.84%

14.73%

-0.91%

0.45%

Fund

Benchmark

Conservative Balance

1.73%

2.01%

4.65%

2.82%

7.03%

7.28%

9.00%

9.64%

9.87%

11.26%

2.37%

1.87%

Fund

Benchmark

Growth

2.94%

3.18%

2.00%

2.10%

11.55%

10.71%

14.85%

14.01%

16.59%

17.11%

-3.44%

-0.95%

Fund

Benchmark

Capital Stable

1.05%

1.32%

4.70%

3.36%

4.51%

5.66%

6.73%

7.34%

7.03%

8.29%

4.72%

4.06%

Fund

Benchmark

Legend:

Outperformed average

Underperformed average

Negative returns

Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.

Benchmark investment information - how performance is measured

To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.

Option Type

Percentage of Growth Assets
min-max %

High Growth

91-100%

Growth

77-90%

Balanced

60-76%

Conservative Balanced

41-59%

Capital Stable

20-40%

Secure

0-19%

What the researchers say

Local Government Super (LGS) is a public offer industry fund, which was established in 1997 to provide retirement benefits to employees of NSW Local Governments.

The MySuper Age Based Investment Strategy is based on the existing diversified investment options offered in the Accumulation Scheme. This investment strategy automatically moves members between investment options as they reach specified ages. LGS' Balanced Growth option has under-performed the SuperRatings Index over the five years to 30 June 2015. Choice members have access to an additional 6 Diversified and Single Sector options. Access to Term Deposits, ASX300 Shares and ETFs is also provided via the DIY Investment Option (Use of the DIY option entails additional costs).

Fees associated with this product are rated as excellent across all assessed account balances. However, transaction fees are applicable for withdrawals, investment and product switches.

New members are provided with three units of Basic Death & TPD cover upon joining through their employer. LGS' Death only, Death & TPD and Income Protection (IP) offerings are all assessed as good. IP is available with benefit periods of either 2 years or until age 65, and with a choice of 30, 60 or 90 day waiting periods.

LGS was awarded SuperRatings Infinity Award in 2015 for the 4th time for their exceptional commitment to social, ethical and environmental principals. The fund is also the winner of the 2016 Rising Star Award, in recognition of its consistent improvements to its product offerings which have significantly enhanced value for its members.

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. For superannuation products, see the rating methodology. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to make an investment decision. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.
This information service uses data and research provided by SuperRatings (ASFL: 311880), which provides general information on superannuation. Read more about SuperRatings’ information service and how their ratings work. As with all investments, past performance is not a reliable indicator of future performance.